This intraday chart on 
SPY illustrates a bearish 5-3 Elliott wave pattern.
There was a bearish impulse wave in the last part of December.
This was followed by a bullish w-x-y double zigzag.
Wave relationships appeared near $402 which is where SPY reversed.
If this pattern plays out, then SPY would likely reach $375 in the next few days while holding below the high near $402.
SPY illustrates a bearish 5-3 Elliott wave pattern.There was a bearish impulse wave in the last part of December.
This was followed by a bullish w-x-y double zigzag.
Wave relationships appeared near $402 which is where SPY reversed.
If this pattern plays out, then SPY would likely reach $375 in the next few days while holding below the high near $402.
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.